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Mrs B died in July 2002 leaving a husband and three adult children. Her will contained a nil-rate band discretionary trust naming the husband and children as possible beneficiaries.
The remainder of the estate was left to the husband. She appointed her husband and two friends as executors and trustees.
The trust clause was unusual in that it instructed the trustees to end the trust within two years of the date of death and distribute the assets and income between the named beneficiaries ‘as they think fit’.
Mr B acting as executor transferred all of Mrs B’s assets into his own name within two years of the death and took no further action. Mr B has now died and appointed me as an executor.
My query concerns the introduction of the transferable nil-rate band for spouses.
Would the transfer of the assets following the first death – presumably...
